What You Didn't Know About the Dollar & Iraq

What You Didn't Know About the Dollar & Iraq
by Mark Owen

The Federal Reserve is a system of private banks separate and distinct
from the U.S. government. This banking system was originally conceived by
John D. Rockefeller and J.P. Morgan. The FED, as it it known, is listed in
the white pages along with Federal Express, the Federal Deposit Insurance
Corporation, and other businesses. The bank produces Federal Reserve Notes.
They use these notes/dollars to purchase government bonds. These notes are a
fiat currency. Historically, all fiat currencies eventually crash due to
hyperinflation from over-issuance. The supply of paper is limitless. There
is no intrinsic value in paper currency after delinking from a gold
standard. This is why they are referred to as bank notes. Legally, they
can't be referred to as 'money.' They are mere tickets/tokens. Forced tender
laws were passed in order to give the paper currency legitimacy. The only
thing giving bank notes value is TAXATION. Gold and silver have intrinsic
value due to scarcity and the fact that it takes work to produce them
(mining, smelting etc). This is why they have been used as money for 5000
years. Precious metals are a good store of value. They retain their value
over time and aren't subject to inflation. The fiat paper system is designed
to create debt through inflation (devaluation of currency). Whenever there
is an increase in the money supply without a corresponding increase in gold
or silver backing, inflation results. Inflation is a subtle form of theft
banks impose upon citizens.

Goodbye gold-

In the 1960s Lyndon Johnson borrowed billions from the French Rothschilds so
he wouldn't have to raise taxes to finance the Viet Nam war. Rothschild
agent Charles de Gaulle demanded repayment in gold, not greenbacks. When
Richard Nixon was elected he noted that the treasury was almost depleted of
gold and he removed the dollar from the gold standard. But the debt still
stood. Nixon collateralized the debt with the mineral estate of the western
U.S. and a land-for-debt swap was initiated. Much of the western States were
given to the banks. This is when Nixon created the Environmental Protection
Agency. Their mandate was/is to PREVENT American citizens from logging,
farming, ranching or otherwise exploiting these lands being held for the
banks. The Bureau of Land Management and other agencies are used to harass
ranchers and farmers from the land.

So, what does the foregoing have to do with Middle East? Plenty.

All central banks of the world hold U.S. dollar reserves equivalent to the
local currency in circulation to facilitate trade. The dollar is the biggest
American export. It is impossible to overstate this. Also, when any country
wishes to purchase oil, they must first convert their local currency to U.S.
dollars and then purchase oil from the cartels. This is the arrangement
hammered out between the U.S. and Saudi Arabia in 1974. The quid pro quo was
that the U.S. armed the Saudis to the teeth.

In the last two years the euro currency has gained 30% relative to the U.S.
dollar. The European banks are seeking to have the euro accepted as the new
world reserve currency. Countries like China and Japan are sitting atop
mountains of U.S. dollars that are being daily devalued. Since the U.S.
dollar is printed by the FED at will and without restraint (and is not
linked to gold), Americans are essentially getting the world's oil for free
(it costs the FED around 4 cents to print a one hundred dollar Federal
Reserve note). France and Germany would like a piece of the free oil pie.

FED chairman Alan Greenspan is forced to feed the recovery myth or risk a
panic sell-off of dollars. This past spring he tripled the money supply to
$50 billion per week. This is making even seasoned economists nervous. In
August, Morgan Stanley chief economist Stephen Roach predicted a stock
market crash on the scale of 1987s Black Monday. "The funding of America is
an accident waiting to happen," he declared.

In speeches made outside of the U.S. (and only then) Greenspan has
repeatedly warned of a possible 'systemic collapse' of the financial system.
The printing of all of this paper is leading to massive inflation. All
commodities have spiked from 10 to 90% over the last year. $15 dollar jeans
available from Wal-Mart produced by slave labor in China somewhat disguise
this fact. Another trick the money masters use to lull citizens is to
periodically and surreptitiously ditch dinosaur industries from the DOW
(like Kodak, this past spring) and supplant them with high-tech earners like
Verizon, for instance. This is not to say that U.S. companies aren't
investing billions of dollars in new production; they are. It's just that
it's in China, not Ohio. China's quarter-trillion dollar export boom is
America's import deficit. The debt-based credit inferno must create ever
larger volumes of debt (credit) to prevent a financial implosion. The entire
world growth since 2003 depends on the record FED money supply. Total U.S.
debt now stands at $34 trillion. The U.S. GDP is $11 trillion. This means
that debt is 3 times GDP, greater even than the depression of the 1930s. But
happily for American citizens, the Federal Reserve of Cleveland commissioned
a study recently on ways to diffuse this massive debt bomb. Options
discussed included:

- doubling payroll taxes from 15.3% of wages to 32% immediately and forever

- raising income taxes by two thirds immediately and forever

- cutting Social Security and Medicare by 45% immediately and forever

- eliminating forever all discretionary spending on courts, highways and
parks

Enter Saddam-

In November 2000 Saddam Hussein tried to barter Iraq's oil directly for
euros. This would have cut America out of its enormous subsidy and started a
stampede of other OPEC members to embrace the euro. This simply would not
stand. 9-11 was the pretext used to boot Saddam. Bush couldn't get America's
moms to sacrifice their children for dollar hegemony and the terrorist bogey
was activated.

Fourteen huge, permanent bases are currently under construction in Iraq,
along with the world's biggest embassy in Baghdad (3,500 employees, and
counting). Bush will continue on a permanent war footing in the Middle East
in order to protect U.S. dollar hegemony. There is no other option. All
future wars will be run out of Iraq. Iran has been making noises lately
about ditching the U.S. dollar in favor of the euro, as have the Saudis.
They're next. The U.S. will dismantle OPEC and surround Saudi Arabia,
keeping their hand firmly on the oil spigot. This is the essence of the
petro-dollar warfare that we are witnessing, in a nutshell….

http://69.28.73.17/thornarticles/dollariraq.html

______

Comments

, Ivan Pope

Lee Wells wrote:

>What You Didn't Know About the Dollar & Iraq
>by Mark Owen
>
> There
>is no intrinsic value in paper currency after delinking from a gold
>standard. This is why they are referred to as bank notes. They are mere tickets/tokens. Forced tender
>laws were passed in order to give the paper currency legitimacy. The only
>thing giving bank notes value is TAXATION.
>
>Gold and silver have intrinsic
>value due to scarcity and the fact that it takes work to produce them
>(mining, smelting etc). This is why they have been used as money for 5000
>years. Precious metals are a good store of value. They retain their value
>over time and aren't subject to inflation.
>
Seldom read so much nonsense. Gold and silver don't have 'intrinsic'
value, they have value because the supply is limited (and often
controlled by cartels and governments). Same with paper currency. If
anything, paper currency has more intrinsic value than gold and silver
because it is created to carry such value.
And do gold and silver retain their value over time? Well, they do
retain the concept of value (unlike paper currencies that can be phased
out). But they are subject to value fluctuations like everything else.

Ivan

, Plasma Studii

>>What You Didn't Know About the Dollar & Iraq

>Seldom read so much nonsense.


actually, that article was oddly constructed. from what i got, the
gold standard thing is a tangential point (albeit sets the tone for
another conspiracy theory). the main item of interest came towards
the bottom. the rest was an fascinating idea. the article offers a
far-fetched scenario as to why there is this war at all. though far
fetched is a lot more realistic than none at all. don't know if it's
news or a james bond plot, but easily missed if anyone was already
turned off in the first few sentences.



if anyone got something different, please correct my summary: thanks
to some arms deal decades ago, .oil was sold to everyone in US
dollars. so we were getting it at a reduced price, since we didn't
have to convert, whereas the sellers lost money in the conversion.
(the federal reserve note argument says we were paying for that oil
with basically funny money, printed on demand, too. but whatever the
currency, seems it was originally a good deal for both sides, that
has since gone way off balance.)

recently a bunch of the oil vendors/countries decided they'd be
better off with the Euro than the Dollar. One leader was Saddam
Hussein. But it would be hard for the US govt to sell folks on a war
about this. so they used 9-11 as their excuse. wether or not the US
govt was in on 9/11, the article doesn't directly speculate, but the
implications are clear. Saddam gets ousted. But the article also
mentions that Iran and Saudi Arabia are itching to get out of the
deal too. So wars will be coming up soon with them next.


Now the article didn't say, but this would explain, why first there
was this Saddam-bin Laden link, that proved erroneous. Why did they
bother to make that up?

Then once Saddam is overthrown, why we stuck around. At what a cost.
seems like about a month later, the real vicious killing started.
The overthrow went pretty quietly in comparison. if we had left and
let the people fend for themselves, we may not have condoned the govt
there, but we would have lost so many lives (on both sides). but the
reason for staying (which has yet never been admitted by the US, only
monthly excuses that never pan out) MIGHT actually be to ensure that
the govt there will adhere to this US currency deal.

and it explains how the insurgents can afford to continue, they are
backed by the wealthiest oil dealers who would benefit from switching
to Euros. we're in debt.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

PLASMA STUDII
art non-profit
stages * galleries * the web
New York, USA

(on-line press kit)
http://plasmastudii.org

, Steve Kudlak

As conspiracy theories go this one is interesting and fun.
Speaking of that, who was the guy who made an elaborate diagram
of all the connections of all sorts of things to all sorts of
other things? He had somne elaborate diagram of something and even
the FBI and the like got interested in it. He never did use a
computer and he died or something like that in a non-mysterious way.
I only remember this as one of those vague intriguing things I have
heard but never could fully check out. I think he worked in one of
those places things like Google and Altavista miss.

This is also a good diagnostics for mailing lists and the nature
of people on them. This message appeared on a variety of groups that
I am on. This one, one called [email protected] and boy
it really did appear that this is more open minded and playful of the two.

So all in all it was a useful message. Although I don't think
I am going to become a true believer of the theory.

Have Fun,
Sends Steve


>>>What You Didn't Know About the Dollar & Iraq
>
>>Seldom read so much nonsense.
>
>
> actually, that article was oddly constructed. from what i got, the
> gold standard thing is a tangential point (albeit sets the tone for
> another conspiracy theory). the main item of interest came towards
> the bottom. the rest was an fascinating idea. the article offers a
> far-fetched scenario as to why there is this war at all. though far
> fetched is a lot more realistic than none at all. don't know if it's
> news or a james bond plot, but easily missed if anyone was already
> turned off in the first few sentences.
>
>
>
> if anyone got something different, please correct my summary: thanks
> to some arms deal decades ago, .oil was sold to everyone in US
> dollars. so we were getting it at a reduced price, since we didn't
> have to convert, whereas the sellers lost money in the conversion.
> (the federal reserve note argument says we were paying for that oil
> with basically funny money, printed on demand, too. but whatever the
> currency, seems it was originally a good deal for both sides, that
> has since gone way off balance.)
>
> recently a bunch of the oil vendors/countries decided they'd be
> better off with the Euro than the Dollar. One leader was Saddam
> Hussein. But it would be hard for the US govt to sell folks on a war
> about this. so they used 9-11 as their excuse. wether or not the US
> govt was in on 9/11, the article doesn't directly speculate, but the
> implications are clear. Saddam gets ousted. But the article also
> mentions that Iran and Saudi Arabia are itching to get out of the
> deal too. So wars will be coming up soon with them next.
>
>
> Now the article didn't say, but this would explain, why first there
> was this Saddam-bin Laden link, that proved erroneous. Why did they
> bother to make that up?
>
> Then once Saddam is overthrown, why we stuck around. At what a cost.
> seems like about a month later, the real vicious killing started.
> The overthrow went pretty quietly in comparison. if we had left and
> let the people fend for themselves, we may not have condoned the govt
> there, but we would have lost so many lives (on both sides). but the
> reason for staying (which has yet never been admitted by the US, only
> monthly excuses that never pan out) MIGHT actually be to ensure that
> the govt there will adhere to this US currency deal.
>
> and it explains how the insurgents can afford to continue, they are
> backed by the wealthiest oil dealers who would benefit from switching
> to Euros. we're in debt.
> –
>
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
>
> PLASMA STUDII
> art non-profit
> stages * galleries * the web
> New York, USA
>
> (on-line press kit)
> http://plasmastudii.org
>
>
> +
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